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GCB

5.000

+0.08 (+1.6%)

NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : BONUS ISSUES GUAN CHONG BERHAD ("GCB" OR THE "COMPANY") (I) PROPOSED BONUS ISSUE OF SHARES; AND (II) PROPOSED FREE WARRANTS ISSUE. (COLLECTIVELY REFERRED TO AS THE "PROPOSALS")

GUAN CHONG BERHAD

Type Announcement
Subject NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS)
BONUS ISSUES
Description
GUAN CHONG BERHAD ("GCB" OR THE "COMPANY")

(I)	PROPOSED BONUS ISSUE OF SHARES; AND

(II)	PROPOSED FREE WARRANTS ISSUE. 

(COLLECTIVELY REFERRED TO AS THE "PROPOSALS")

The terms used herein shall have the same meaning as those defined in the announcement made on 20 August 2019 unless otherwise stated.

We refer to the announcements dated 20 August 2019 and 5 September 2019 in relation to the Proposals.

On behalf of the Board, RHB Investment Bank is pleased to announce that Bursa Securities had via its letter dated 13 September 2019, approved the following on the Main Market of Bursa Securities:

(i)         Admission to the Official List and listing and quotation of up to 175,979,642 Warrants to be issued pursuant to the Proposed Free Warrants Issue;

(ii)         Listing and quotation of up to 527,938,927 Bonus Shares to be issued pursuant to the Proposed Bonus Issue of Shares; and

(iii)        Listing and quotation of up to 175,979,642 new GCB Shares to be issued arising from the exercise of the Warrants.

The approval by Bursa Securities is subject to the following conditions:

(i)         GCB and RHB Investment Bank must fully comply with the relevant provisions under the Listing Requirements pertaining to the implementation of the Proposals;

(ii)         GCB and RHB Investment Bank to inform Bursa Securities upon the completion of the Proposals;

(iii)        RHB Investment Bank to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities’ approval once the Proposals are completed;

(iv)        GCB is required to make the relevant announcements pursuant to Paragraphs 6.35(2)(a)&(b) and 6.35(4) of the Listing Requirements in relation to the Proposed Bonus Issue of Shares;

(v)        GCB to furnish Bursa Securities with a certified true copy of the resolution passed by shareholders at an extraordinary general meeting for the Proposals;

(vi)        GCB to furnish Bursa Securities on a quarterly basis a summary of the total number of shares listed pursuant to the exercise of Warrants under the Proposed Free Warrants Issue as at the end of each quarter; and

(vii)       Payment of outstanding processing fee based on the market value of the Bonus Shares to be listed (based on the adjusted price), if applicable. In this respect, the Company is required to furnish Bursa Securities a cheque drawn to the order of Bursa Malaysia Securities Berhad for the outstanding processing fee together with a copy of the details of the computation of the amount of fees payable.

 

This announcement is dated 13 September 2019.






Announcement Info

Company Name GUAN CHONG BERHAD
Stock Name GCB
Date Announced 13 Sep 2019
Category General Announcement for PLC
Reference Number GA1-13092019-00069